Nevro (NYSE:NVRO) Given New $88.00 Price Target at Canaccord Genuity

Nevro (NYSE:NVRO) had its price objective boosted by Canaccord Genuity from $59.00 to $88.00 in a report released on Thursday morning, AnalystRatings.com reports. They currently have a hold rating on the medical equipment provider’s stock.

A number of other research analysts have also recently commented on the stock. JMP Securities upped their price target on shares of Nevro to $115.00 and gave the stock an outperform rating in a report on Thursday. Leerink Swann set a $98.00 price target on shares of Nevro and gave the stock a buy rating in a report on Friday, August 23rd. Oppenheimer upgraded shares of Nevro from a market perform rating to an outperform rating and set a $106.00 price target on the stock in a report on Thursday. Wells Fargo & Co upped their price target on shares of Nevro from $86.00 to $105.00 and gave the stock an outperform rating in a report on Thursday. Finally, Bank of America upped their price target on shares of Nevro from $70.00 to $74.00 and gave the stock a buy rating in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $86.83.

Shares of NYSE NVRO traded up $2.21 during mid-day trading on Thursday, reaching $105.59. The company had a trading volume of 798,622 shares, compared to its average volume of 519,500. The business’s 50-day moving average is $85.49 and its 200-day moving average is $72.60. The company has a current ratio of 6.05, a quick ratio of 4.66 and a debt-to-equity ratio of 0.89. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of -64.38 and a beta of 0.21. Nevro has a 52 week low of $34.75 and a 52 week high of $108.20.

Nevro (NYSE:NVRO) last posted its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported ($0.58) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.85) by $0.27. The firm had revenue of $100.16 million for the quarter, compared to analysts’ expectations of $92.27 million. Nevro had a negative net margin of 24.51% and a negative return on equity of 41.07%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.37) earnings per share. As a group, equities research analysts forecast that Nevro will post -3.99 earnings per share for the current year.

In related news, VP Doug Alleavitch sold 1,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $100.00, for a total value of $100,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 7.60% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. Quest Capital Management Inc. ADV purchased a new stake in Nevro in the third quarter worth about $26,000. Quantamental Technologies LLC purchased a new stake in shares of Nevro during the second quarter valued at about $75,000. Atria Investments LLC purchased a new stake in shares of Nevro during the second quarter valued at about $267,000. Creative Planning purchased a new stake in shares of Nevro during the third quarter valued at about $224,000. Finally, Prudential Financial Inc. purchased a new stake in shares of Nevro during the second quarter valued at about $202,000.

About Nevro

Nevro Corp., a medical device company, provides products for the patients suffering from chronic pain in the United States and internationally. The company develops and commercializes the Senza spinal cord stimulation system, an evidence-based neuromodulation platform for the treatment of chronic pain.

Featured Article: What are the Different Types of Leveraged Buyouts?

Analyst Recommendations for Nevro (NYSE:NVRO)

Receive News & Ratings for Nevro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nevro and related companies with MarketBeat.com's FREE daily email newsletter.